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IBM puts printers on block
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June 17, 1998: 8:15 a.m. ET
Report says company enlists Goldman Sachs to sell Printing Systems Co.
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NEW YORK (CNNfn) - IBM Corp. is looking to sell its printer business as part of a shift to narrow its product line, according to a published report Wednesday.
The technology giant has asked Goldman Sachs & Co. to find a potential buyer for its Printing Systems Co., the Wall Street Journal reported.
The paper, citing analyst estimates, said the business generates about $2 billion in annual revenue.
An IBM spokesman declined comment to the paper.
IBM's Printing Systems Co., based in Boulder, Colo., sells large printers to produce credit-card bills and other statements.
Since Douglas Maine took over as chief financial officer in April, IBM has been looking to narrow its product focus and concentrate more on bottom-line issues.
Last week, IBM sold its stake in a PowerPC chip design center to Motorola Inc., ending the companies' six-year alliance.
IBM (IBM) shares closed Tuesday at 110, down 2-1/4. 
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